Question
Dollar-Value LIFO Belstock Company manufactures one product. On December 31, 2018, Belstock adopted the dollar-value LIFO inventory method. The inventory on that date using the
Dollar-Value LIFO
Belstock Company manufactures one product. On December 31, 2018, Belstock adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $300,000. Inventory data for succeeding years are as follows:
| Year | Inventory at Respective Year-End Prices | Price Index (Base Year 2018) |
| 2019 | $325,500 | 1.05 |
| 2020 | 414,000 | 1.15 |
| 2021 | 408,000 | 1.20 |
Required:
Compute the ending inventory using the dollar-value LIFO method for 2019, 2020, and 2021. Do not round your intermediate calculations. If required, round your answers to the nearest dollar.
| December 31, 2019 | $fill in the blank 1 |
| December 31, 2020 | $fill in the blank 2 |
| December 31, 2021 | $fill in the blank 3 |
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The Law Of Healthcare Administration
Authors: Stuart Showalter
9th Edition
9781640551305
